Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.
Here’s why brokers think investors ought to buy them next week:
Macquarie Group Ltd (ASX: MQG)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating but trimmed their price target on this investment bank’s shares to $235.00. The broker is expecting a solid update from Macquarie next week thanks largely to its private markets and commodities exposure. And while it has cut its price target after adjusting the multiples used its valuation method, the potential upside remains sufficient to main its overweight rating. The Macquarie share price ended the week at $192.34.
National Australia Bank Ltd (ASX: NAB)
A note out of UBS reveals that its analysts have resumed coverage on this banking giant’s shares with a buy rating and $30.50 price target. UBS believes NAB is well-placed for a recovery in its earnings thanks to stronger than average new business growth and improving net interest margins. The broker also appears optimistic that NAB’s business banking operations will return to form after losing market share recently. The NAB share price was fetching $27.91 at Friday’s close.
Nufarm Ltd (ASX: NUF)
Analysts at Morgans have retained their add rating and lifted their price target on this agricultural chemicals company’s shares to $7.20. This follows the company’s investor day which revealed a strong start to FY 2022 and aspirational growth targets that were far greater than the market was expecting. All in all, Morgans is confident that material value will be unlocked over the coming years. The Nufarm share price ended the week at $5.52.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
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More reading
- The Macquarie (ASX:MQG) share price is down 10% in 2022, time to jump on it?
- These were the best performing ASX 200 shares last week
- Why top brokers see further upside to the Nufarm (ASX:NUF) share price
- Tech stocks crash, while Nufarm soars. Scott Phillips on Nine’s Late News
- Looking to buy NAB (ASX:NAB) shares? Read what this broker says first
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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